{"id":1649342,"date":"2022-09-20T14:11:26","date_gmt":"2022-09-20T18:11:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649342"},"modified":"2022-09-20T14:11:30","modified_gmt":"2022-09-20T18:11:30","slug":"1-at-start-of-bidens-term-now-worth-88-cents-as-inflation-crushing-americans-sen-johnson","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/1-at-start-of-bidens-term-now-worth-88-cents-as-inflation-crushing-americans-sen-johnson\/","title":{"rendered":"$1 at Start of Biden\u2019s Term Now Worth 88 Cents as Inflation \u2018Crushing\u2019 Americans: Sen. Johnson"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2F1-at-start-of-bidens-term-now-worth-88-cents-as-inflation-crushing-americans-sen-johnson%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1649342&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Sen. Ron Johnson (R-Wis.) illustrated in a statement on Sept. 20 how soaring <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> has\u00a0eroded Americans\u2019 purchasing power, pointing out in stark terms that $1 at the start of the Biden administration is now effectively worth just 88.3 cents.<\/p>\n<p>Johnson, who\u2019s been a repeated vocal critic of President <a href=\"https:\/\/www.theepochtimes.com\/t-joe-biden\">Joe Biden<\/a>\u2019s handling of the economy and Democrats\u2019 big spending bills, took to Twitter on Sept. 20 to criticize the impact of red-hot inflation on American households.<\/p>\n<p>\u201cLet this sink in: $1.00 at the start of the Biden administration is now worth $0.88. This is the Democrats\u2019 tax on the middle class, and it\u2019s crushing all Americans,\u201d Johnson wrote.<\/p>\n<p>In an interview on Fox News, Johnson elaborated on his point about the dramatic reduction in purchasing power due to inflation, especially among Americans on fixed incomes, such as retirees.<\/p>\n<p>\u201cIf you\u2019re a senior lucky enough to hold $100,000 in a retirement account at the start of the Biden administration, it\u2019s now worth only $88,300,\u201d he told the outlet.<\/p>\n<p>\u201cIt\u2019s like the federal government stole $12,000 out of your savings account, and that\u2019s exactly what they did because of their exorbitant and out-of-control deficit spending,\u201d he said, adding, \u201cand they have no intention of stopping.\u201d<\/p>\n<p>The Republican senator\u00a0<a href=\"https:\/\/www.ronjohnson.senate.gov\/2022\/8\/sen-johnson-democrats-are-as-detached-from-economic-reality-as-they-are-from-the-truth\">earlier criticized<\/a> the passage of the Democrat-led <a href=\"https:\/\/www.theepochtimes.com\/t-inflation-reduction-act\">Inflation Reduction Act<\/a>, calling it a misnomer that would\u2014contrary to remarks made by members of the Biden administration\u2014add to inflationary pressures.<\/p>\n<p> Inflation \u2018Hasn\u2019t Spiked,\u2019 Biden Claims <\/p>\n<p>Johnson\u2019s scathing remarks on Twitter follow President Joe Biden\u2019s eyebrow-raising interview that aired on CBS\u2019s \u201c60 Minutes\u201d program on Sept. 18, in which the <a href=\"https:\/\/www.theepochtimes.com\/biden-says-inflation-rose-hardly-at-all-as-americans-grapple-with-soaring-prices_4739839.html\">president downplayed<\/a> the inflationary pressures facing American families.<\/p>\n<p>Biden said in the interview that inflation over the past few months \u201chasn\u2019t spiked\u201d and that the monthly rate of inflation was negligible.<\/p>\n<p>\u201cThe inflation rate month to month was just \u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Ron Johnson (R-Wis.) illustrated in a statement on Sept. 20 how soaring inflation has\u00a0eroded Americans\u2019 purchasing power, pointing out in stark terms that $1 at the start of the Biden administration is now effectively worth just 88.3 cents. Johnson, who\u2019s been a repeated vocal critic of President Joe Biden\u2019s handling of the economy and [\u2026]<\/p>\n","protected":false},"author":118,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1649342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1649342"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1649342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1649342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1649342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1649342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}